MONESE CELEBRATES ITS EXPANSION WITH THE “FREE MOVEMENT OF MONEY” OFFERING €350 MILLION WORTH OF FREE MONEY TRANSFERS

Sep 26, 2017

Monese takes a new look “Brexit Bus” on tour to share its positive message to the UK and Europe

Users can now open an instant local bank account in 20 different countries to bank like a local

Monese, the provider of instant bank accounts, has announced its official launch across the Eurozone. To celebrate, the company is driving a new look “Brexit Bus” to cities across the continent, offering new and existing customers the ability to send €350 Million in free money transfers between its UK and Eurozone accounts.

The company quietly launched its new Eurozone accounts to existing customers a month ago and has already seen 6,000 accounts opened. Over 50 different nationalities now have both a UK and Eurozone Monese account and already there is a Monese card in each of the 20 countries.

Customers are free to move anywhere in the Eurozone and the UK, safe in the knowledge that their local bank account will be accessible and usable consistently via the app in any one of eight languages. To celebrate Monese has launched its ‘Free Movement of Money’ campaign. Giving its customers the ability to transfer their money, fee free, offering the service to the total value of €350 million across its existing and new users.

Norris Koppel, Founder and CEO of Monese, commented: “Our expansion is aimed at breaking down financial barriers when crossing borders within the EU, by providing a simple way to manage your money on the go. We believe that people should be able to live, travel, and work freely, without the administrative burdens and restraints of legacy financial systems. Monese takes the stress and hassle out of making this possible – and I’m delighted that we’re already seeing a growing demand from our existing customers.”

“To celebrate our official launch to everyone, we wanted to give all our customers an additional benefit to using Monese, by enabling them to send their money, fee free. To drive this message home we’re taking the now infamous Brexit Bus on a tour across Europe. But changing it to a promise we know we can keep.”

Users can sign up for a Eurozone account via the Monese app, and can also have a UK account at the same time. Individuals working in different European countries will be able to receive salary payments into their local account, without being charged excessive fees for doing so. Currently, over 75% of Monese’s UK accounts are used as salary receiving accounts, and since it quietly opened last month, 30% of Eurozone accounts are also used as a salary account.

In addition to the Eurozone account, Monese users can now benefit from eight new languages, so whether you are French and based in London, or Romanian in Germany, Monese allows people the clarity that speaking your native language brings.

Monese launched in September 2015 and was the first 100 per cent mobile bank account in the UK. In order to join, users download the app and use it to take a video selfie, providing a snap of their passport or national ID, alongside some basic profile information. Monese currently has 170,000 users. The team is based in London and Tallinn, Estonia, and since closing a Series A round last year, has grown to a team size of 90.